By Angela McDaniels
Tacoma, Wash., April 17 – Royal Bank of Canada priced $3.75 million of autocallable contingent coupon barrier notes due Oct. 18, 2017 linked to the lesser performing of the common stocks of General Motors Co. and Mondelez International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 12.5% per year if each stock closes at or above its trigger price, 80% of its initial price, on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial share price on either quarterly observation date.
The payout at maturity will be par unless either stock finishes below its trigger price, in which case investors will receive a number of shares of the lesser-performing stock equal to $1,000 divided by its initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
RBC Capital Markets, LLC is the underwriter.
| Issuer: | Royal Bank of Canada
|
| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stocks: | General Motors Co. (Symbol: GM) and Mondelez International, Inc. (Symbol: MDLZ)
|
| Amount: | $3.75 million
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| Maturity: | Oct. 18, 2017
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| Coupon: | 12.5% per year, payable quarterly if each stock closes at or above trigger price on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either stock finishes below trigger price, in which case number of shares of lesser-performing stock equal to $1,000 divided by its initial share price or, at issuer’s option, amount in cash equal to value of those shares
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| Call: | At par if each stock closes at or above initial share price on either quarterly observation date
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| Initial share prices: | $33.39 for GM and $44.04 for Mondelez
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| Trigger prices: | $26.71 for GM and $35.23 for Mondelez; 80% of initial prices
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| Pricing date: | April 13
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| Settlement date: | April 19
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| Underwriter: | RBC Capital Markets, LLC
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| Fees: | 1.75%
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| Cusip: | 78013GDT9
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